Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin

Tabassum Altcoin News February 23, 2019

Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin

Gemini cryptocurrency exchange, led by American rowers and Internet entrepreneurs – Cameron and Tyler Winklevoss are on bulletins again. As per the latest report, a Brazilian bank ‘BTG Pactual’ intends to utilize ‘Gemini dollar’ by partnering with Gemini cryptocurrency exchange.

Bank Step Ahead with Digital Token

Per the reports and the statement by CEO Tyler Winklevoss, the Banco BTG Pactual (a Brazillian investment bank) aims at utilizing ‘U.S.dollar backed stabelecoin which is a Gemini dollar introduced by one of the largest trading platform – the Gemini exchange.

With this initiative, the bank steps ahead to raise millions of dollars via security tokens offering. Particularly, it targets $15 million and further plans to establish a ‘secondary market’ to serve better liquidity to the tokens. The essence of Bank offering tokens is that ‘it enables investors to contribute to the Brazilian real estate market’ wherein the international investors can purchase their native token called ‘ReitBZ (RBZ).

“The technology associated with this offering allows us to be a pioneer in providing access to asset classes that have historically been difficult for global retail investors to access. We are constantly exploring innovative ways to promote, democratize and encourage the development of financial and capital markets.” Said Bank CEO – Roberto Sallouti,

So inconsequent to the partnership, Gemini dollar will be the stablecoin for Bank’s ReitBZ. To note, Gemini is already a regulated platform and quite often encourage regulations via their promotional strategies. Furthermore, the bank with the collaboration would receive investment capital and ‘distribute dividends on ETH blockchain platform. It said that the Bank would work in compliance with possible AML and KNY requirements as well.

Addressing the similar context, Gemini CEO Tyler Winklevoss said;

“The tokenization of real assets is a major step forward in the evolution of the crypto economy. … Working with BTG Pactual to leverage the Gemini dollar as the stablecoin for ReitBZ helps move the industry in the right direction,”

What do you think about BTG Pactual Banks’ collaboration with Gemini exchange? share your opinion with us. 

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Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin
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Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin
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Gemini cryptocurrency exchange, led by American rowers and Internet entrepreneurs - Cameron and Tyler Winklevoss are on bulletins again. As per the latest report, a Brazilian bank ‘BTG Pactual’ intends to utilize ‘Gemini dollar’ by partnering with Gemini cryptocurrency exchange.
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Author: Tabassum

Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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